Importance of Planning for the Future
Estate Planning is really just planning what you want to have happen when you die. Doing
this is important because it allows us to make wise plans for the wealth God has entrusted to us. It
allows us to manage it well during our lifetime and it allows us to decide how to pass it on either
during our lives or upon our death.
This planning for the future has many concrete benefits, including allowing you to:
- Provide for your family, which may include a surviving spouse, minor (or adult) children,
and others you care for;
- Ensure that your assets go where you want them to, within the bounds of the law;
- Help ensure that your minor children are looked after by the people you choose;
In addition to these and other benefits, planning for the future also helps to minimize the chance
for very bad situations to arise, such as:
- Having family members fight over your children, with a Judge having the final say over
who raises your children and without any guidance from you;
- Having your children potentially inherit a great deal of money on their 18th birthday (the
provincial legislated age if you fail to declare otherwise in your Will). Do you really
think they will be mature enough to deal with that much money when they are 18?
Family fights over valuables, heirlooms, or items of sentimental attachment;
- Family fights over the family farm, or business, or vacation property;
- Having a generic piece of provincial legislation say where your money and assets go,
without any regard for your wishes?
Planning for the future can help ensure that your estate is dealt with more quickly, with less cost
and less hassle. A little planning now can save your loved ones a great deal of trouble later, so
call today to let Mennonite Trust help you with your estate planning questions.
“If anyone does not provide for his relatives,
and especially for his immediate family,
he has denied the faith and is worse than an
unbeliever.” – 1 Timothy 5:8 (NIV)
See the Wills section for more information on Wills.
See the Estate Administration section for more information on Administration of Estates.